Brokers trading in forex markets have many things to keep track of at any given time. They are dealing with transactions on a global scale in every time zone around the globe. In addition to the size and breadth of the market and maintaining their accounts and sales and purchases, they still need to continually bring in and keep trader accounts to keep their clients happy. And bring in clients to keep their traders coming back. In a global market, there are always other options for clients and brokerage firms dealing in forex have to work hard to keep everyone happy. This means maintaining and monitoring the trader accounts and keeping the money coming in. Everyone involved in forex and trading affects the value of currency around the world. The proper balance of all of the parties and all of the currency values is essential.
The Most Widely Used Trading Platform
To help facilitate forex trading and the market itself, systems were developed to make it easier and simpler to at least keep track of. Metatrader is one of the most prominent of these systems. Metatrader is an electronic forex trading platform that has components for both brokers and clients. . It makes the broker and client ends of the process simpler and more efficient, which is essential in this fast moving forex market. Many times, traders and brokers end up playing catch up with the time differences and a platform like Metatrader allows everyone to catch up by keeping track of accounts and trades made during the lapse in online presence.
Developed by Metaquotes Software, the platform gets licensed to brokers who then give the appropriate software to clients. The clients can use it to see the value and price of their stocks and also to manage their account with the brokerage. It also has a database of information and articles for the client to fully understand the various issues and movements in the market and how it affects them and their investing.
Brokers can use Metatrader to see the trading activity among their trader accounts. It allows them to execute requested trades as well as monitor trends and see in what areas they need more trading or stronger bids for available currency exchange.
The Latest Metatrader
Metatrader 5 was released in 2010 and is state of the art and cutting edge for forex trading. This latest version is used for forex as well as equity markets, CFD (Contract for Difference) and futures trading. It also has an updated version of the trading automation option which uses custom indicators and Expert Advisors (trading programs). There are all kinds of new tools and advice, ways to double check on the value of a currency pair and whether the bids and spread are reasonable. Metatrader 4 is still more prevalently used as some of the online brokerages and their systems are still updating to the latest version of the trading platform.
Metatrader is a large interactive platform that can be used for any type of trading. It is general enough to fit into any large brokerage with a variety of clients. Etoro is a more specific system aimed at simplicity and being user friendly, especially for beginning traders. Metatrader is also easy to use, but it is aimed at the experience level of the broker, with tools to help and educate the client. Etoro is for traders and is more of an independent trading tool. Etoro actually has been described as a broker itself, so it is more of an individual tool for direct trading. Metatrader is more true to its name, and is used on a larger scale by a more professional element.